Viction

Halal Rating :
Comfortable
Last Price $1.6 Last updated:
Rank 170
1D Change -9.49 %
Market Cap $157.44m
Circulating supply 96,830,754
Maximum supply None

Crypto Overview

Categories
  • Platform
  • Alameda Research Portfolio
  • Injective Ecosystem

Overview

Viction (formerly TomoChain) is a Layer-1 blockchain platform launched in 2017 that aims to provide fast, low-cost, and scalable blockchain infrastructure for decentralized applications (dApps) and enterprise solutions. The project rebranded from TomoChain to Viction in 2023 to reflect its expanded vision.

Purpose and Utility

Viction's primary purpose is to serve as a blockchain platform for building and deploying decentralized applications. The TOMO token is used for: 1) Transaction fees on the network, 2) Staking to secure the network through Proof of Stake consensus, 3) Governance voting on network proposals.

Business Model and Operations

The platform operates through a Proof of Stake consensus mechanism with masternodes. The network supports smart contracts, token issuance, and dApp deployment with a focus on enterprise solutions and gaming applications. All core functionalities align with halal principles as they involve real utility exchange and asset ownership.

Development and Adoption

The project maintains active development with regular GitHub commits and protocol updates. The ecosystem includes various dApps, particularly in gaming and enterprise solutions. While adoption is still growing, this doesn't impact its halal status as limited adoption isn't a sharia compliance concern.

Token Distribution

The initial token distribution allocated 55% to the public, 15% to the team, 15% to strategic partners, and 15% to ecosystem development. Team tokens were subject to a 2-year vesting period, demonstrating commitment to long-term development.

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